Gilead Sciences entered into an agreement with the European Commission for joint procurement of Veklury, the first antiviral drug for COVID-19 treatment, according to press release. The JPA allows participating countries of the European Union, European Economic Area (EEA), and the UK to acquire Veklury for real-time demand and stockpiling needs.
- The JPA agreement covers Veklury purchases over the next six months with the option for extension.
- JPA to replace Emergency Support Instrument (ESI) from August through October that allowed European Commission to procure Veklury for EU member states, including the UK
- ESI and JPA to temporarily suspend country-by-country reimbursement that follows marketing authorizations due to the current health crisis
- Gilead to start fulfilling orders the week of October 12
- European Commission granted conditional marketing authorization of Veklury on July 3, 2020
- Veklury supply to meet global demand by the end of this month.
Gilead stock gaining on the announcement of agreement with the European Commission. GILD: NASDAQ is up on premarket 1.61%
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